TORONTO, ONTARIO -- (Marketwire) -- 04/21/11 -- West Street Capital Corporation ("West Street" or the "company") (TSX VENTURE: WSC)(TSX VENTURE: WSC.PR.A) reported net income for the year ended December 31, 2010 of $4.2 million compared to $0.6 million in 2009. After providing for unpaid preferred share dividend obligations of $2.9 million (2009 - $2.9 million), net income per common share was $0.12 for the year ended December 31, 2010 compared to a net loss of $0.21 per common share in 2009.

Dividends, interest and other income totalled $2.9 million for the year ended December 31, 2010, in comparison to $1.6 million for the same period in 2009 and consisted principally of dividends and interest earned on the company's securities portfolio. The increase in investment income is primarily the result of higher interest rates associated with a high yield bond portfolio acquired in late 2009.

The company recorded comprehensive income for the year ended December 31, 2010 of $13.2 million compared to $4.9 million in the prior year, which accrues to the preferred shares and reduced the common share deficit to $37.7 million.